Business

October 2017

Government reaffirms support for displaced Toyota employees – October 2017

Filed under: Trade and industry, Business,

The federal Government has reaffirmed its commitment to supporting workers affected by the cessation of Toyota’s automotive manufacturing operations in Melbourne.

Legislation extends crowd funding to proprietary companies – October 2017

Filed under: Politics, Australian Politics, Trade and industry, Business,

The Government has introduced legislation in federal Parliament to extend crowd-sourced equity funding to proprietary companies.

September 2017

New steps towards simpler business registration – September 2017

Filed under: Trade and industry, Business, Small Business,

Commonwealth agencies are teaming up to streamline business registration to make it easier to start a new business in Australia.

Tougher rules on credit card surcharges from 1 September 2017 – September 2017

Filed under: Economy and Finance, Banking, Trade and industry, Business,

The Government’s ban on excessive credit card surcharging for all businesses took effect from 1 September.

August 2017

Government consults on business registration changes – August 2017

Filed under: Politics, Australian Politics, Trade and industry, Business,

The Government has started consultation on ways to modernise business registers to make it simpler for business to get on with business.

August 2016

Xenophon calls for change in Reserve Bank targeting – August 2016

Filed under: Economy and Finance, Banking, Politics, Australian Politics, Senate,

South Australian Senator Nick Xenophon, now leader of the Nick Xenophon Team, has proposed that the Reserve Bank of Australia should abandon inflation targeting to favour a growth target instead.

July 2016

Change to PAYG instalments from 1 July 2016 – July 2016

Filed under: Economy and Finance, Tax, Trade and industry, Business,

The Australian Tax Office (ATO) has announced that the annual adjustment rate for Pay As You Go (PAYG) tax instalments for 2016-17 is 2 per cent.

June 2016

No real economic strategy from either major party – June 2016

Filed under: Australian Politics, Elections, Economy, Tax, Health,

At the halfway point on this eight-week campaign political static is overwhelming most significant policy – and political – debate.

Partnership ABNs to be cancelled – June 2016

Filed under: Economy and Finance, Tax, Trade and industry, Business, Small Business,

The Australian Tax Office (ATO) says it will soon start enforcing tougher rules cancelling the ABNs of partnerships which have not lodged tax returns or activity statements for two years.

May 2016

Company and business taxation – May 2016

Filed under: Economy and Finance, Tax, Politics, Budget, Trade and industry,

The Government announced in the Budget that it will reduce the company tax rate to 27.5 per cent in 2016-17 for companies with a turnover of less than $10 million.

Change to deductible liabilities – May 2016

Filed under: Economy and Finance, Tax, Politics, Budget, Trade and industry,

The Government will modify how the 2013-14 Budget measure ‘Closing loopholes in the consolidation regime — deductible liabilities of a joining entity addresses the double counting of deductible liabilities under the consolidation regime’.

Excise reductions for some distillers – May 2016

Filed under: Economy and Finance, Tax, Politics, Budget, Trade and industry,

The Government announced in the Budget it will extend the current brewery refund scheme to domestic distilleries and producers of low strength fermented beverages such as non-traditional cider from 1 July 2017.

Possible extension of arrangements for venture capital investment – May 2016

Filed under: Economy and Finance, Tax, Politics, Budget, Trade and industry,

The Government announced in the Budget that it will seek feedback on how to ensure investors in FinTech start-up activities are eligible for the venture capital tax concessions.

Extending eInvoicing – May 2016

Filed under: Politics, Budget, Trade and industry, Business,

The Government announced in the Budget that it will undertake a review of possible benefits of the wider adoption of eInvoicing in the Australian Government’s dealings with businesses.

December 2015

Innovation Statement – Access to crowd-sourced equity funding – December 2015

Filed under: Australian Politics, Tax, Business, Investment, IT,

The Government proposes that new crowd-sourced equity funding (CSEF) rules will allow entrepreneurs to raise up to $5 million per year from a large number of individuals.

Innovation Statement - Changes to Venture Capital Limited Partnerships – December 2015

Filed under: Australian Politics, Tax, Business, Investment,

The Government proposes that partners in a new Early Stage Venture Capital Limited Partnership (ESVCLP) will receive a 10 per cent non-refundable tax offset on capital invested during the year.

Innovation Statement – Tax incentives for investors – December 2015

Filed under: Australian Politics, Tax, Business, Investment,

The Government proposes that concessional tax treatment will be made available for investors who support innovative startups.

Innovation Statement - Reforms to Employee Share Schemes – December 2015

Filed under: Australian Politics, Tax, Business,

The Government proposes changes to the tax treatment of Employee Share Ownership Schemes to limit the requirement for disclosure documents given to employees under an Employee Share Schemes (ESS) to be made available to the public.

Innovation Statement - Insolvency law reform – December 2015

Filed under: Australian Politics, Economy, Business,

The Government proposes to change existing insolvency laws to reduce the current default bankruptcy period from three years to one year.

Innovation and Science Agenda to drive growth and jobs, says Government – December 2015

Filed under: Australian Politics, Tax, Business, IT,

Prime Minister Malcolm Turnbull has launched his much-anticipated Innovation Statement, saying he wants to drive what he called an “ideas boom”.

Innovation Statement - Increasing access to company losses – December 2015

Filed under: Australian Politics, Business,

The Government will allow flexible access to company losses:  The current ‘same business test’ will be relaxed to allow businesses to access prior year losses when they have entered into new transactions or business activities.

Tax measures at heart of Innovation Statement – December 2015

Filed under: Australian Politics, Economy, Tax, Business, IT,

Treasurer Scott Morrison says that new tax and business incentives under the Government’s National Innovation and Science Agenda (NISA) will help to drive economic growth and jobs.

Charities Commission remains under a cloud – December 2015

Filed under: Australian Politics, Charities, Social Services, Business,

Social Services Minister Christian Porter has refused to give a commitment on the future of the national not-for-profit regulator, the Australian Charities and Not-for-profits Commission.

Innovation Statement – Access to crowd-sourced equity funding – December 2015

Filed under: Australian Politics, Tax, Business, Investment, IT,

The Government proposes that new crowd-sourced equity funding (CSEF) rules will allow entrepreneurs to raise up to $5 million per year from a large number of individuals in return for equity in their company.

Innovation Statement – Changes to Venture Capital Limited Partnerships – December 2015

Filed under: Australian Politics, Tax, Business,

The Government proposes that partners in a new Early Stage Venture Capital Limited Partnership (ESVCLP) will receive a 10 per cent non-refundable tax offset on capital invested during the year.

Innovation Statement – Tax incentives for investors – December 2015

Filed under: Australian Politics, Tax, Business, Investment,

The Government proposes that concessional tax treatment will be made available for investors who support innovative startups, including a 20 per cent non-refundable tax offset on investment capped at $200,000 per investor, per year.

Innovation Statement – Reforms to Employee Share Schemes – December 2015

Filed under: Australian Politics, Tax, Business,

The Government proposes changes to the tax treatment of Employee Share Ownership Schemes to limit the requirement for disclosure documents given to employees under an Employee Share Schemes (ESS) to be made available to the public.

Innovation Statement - Intangible asset depreciation – December 2015

Filed under: Australian Politics, Tax, Business,

The Government proposes to provide businesses with a new option to self-assess the tax effective life of acquired intangible assets.

Innovation Statement – Insolvency laws reform – December 2015

Filed under: Australian Politics, Business,

The Government proposes to change existing insolvency laws to reduce the current default bankruptcy period from three years to one year.

Innovation Statement - Increasing access to company losses – December 2015

Filed under: Australian Politics, Business,

The Government will allow flexible access to company losses: The current ‘same business test’ will be relaxed to allow businesses to access prior year losses when they have entered into new transactions or business activities.

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